3,230 Shares in General Mills, Inc. (NYSE:GIS) Acquired by LGT Group Foundation

LGT Group Foundation purchased a new position in shares of General Mills, Inc. (NYSE:GIS) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 3,230 shares of the company’s stock, valued at approximately $204,000.

Other large investors have also made changes to their positions in the company. Rise Advisors LLC boosted its position in shares of General Mills by 199.3% during the 1st quarter. Rise Advisors LLC now owns 410 shares of the company’s stock worth $29,000 after acquiring an additional 273 shares in the last quarter. Capital Advisors Ltd. LLC boosted its position in General Mills by 409.8% in the first quarter. Capital Advisors Ltd. LLC now owns 418 shares of the company’s stock valued at $29,000 after buying an additional 336 shares in the last quarter. RFP Financial Group LLC boosted its position in General Mills by 66.3% in the first quarter. RFP Financial Group LLC now owns 434 shares of the company’s stock valued at $30,000 after buying an additional 173 shares in the last quarter. Perkins Coie Trust Co boosted its position in General Mills by 769.2% in the first quarter. Perkins Coie Trust Co now owns 452 shares of the company’s stock valued at $32,000 after buying an additional 400 shares in the last quarter. Finally, GoalVest Advisory LLC boosted its position in General Mills by 65.5% in the first quarter. GoalVest Advisory LLC now owns 455 shares of the company’s stock valued at $32,000 after buying an additional 180 shares in the last quarter. Institutional investors and hedge funds own 75.71% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GIS. The Goldman Sachs Group began coverage on shares of General Mills in a research report on Monday, August 12th. They issued a “buy” rating and a $76.00 target price on the stock. Citigroup cut their target price on shares of General Mills from $71.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Evercore ISI cut their target price on shares of General Mills from $76.00 to $72.00 and set an “in-line” rating on the stock in a research report on Friday, June 28th. Bank of America cut their target price on shares of General Mills from $70.00 to $68.00 and set a “neutral” rating on the stock in a research report on Thursday, June 27th. Finally, Barclays dropped their price target on shares of General Mills from $72.00 to $67.00 and set an “equal weight” rating for the company in a research note on Friday, June 28th. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $69.07.

General Mills Price Performance

Shares of NYSE GIS opened at $74.83 on Wednesday. General Mills, Inc. has a twelve month low of $60.33 and a twelve month high of $75.90. The firm has a fifty day simple moving average of $68.11 and a 200 day simple moving average of $68.02. The company has a market capitalization of $41.65 billion, a PE ratio of 17.36, a P/E/G ratio of 4.25 and a beta of 0.10. The company has a quick ratio of 0.38, a current ratio of 0.65 and a debt-to-equity ratio of 1.17.

General Mills (NYSE:GIS) last announced its earnings results on Wednesday, June 26th. The company reported $1.01 earnings per share for the quarter, topping analysts’ consensus estimates of $0.99 by $0.02. General Mills had a net margin of 12.57% and a return on equity of 26.56%. The business had revenue of $4.71 billion during the quarter, compared to the consensus estimate of $4.85 billion. During the same quarter last year, the firm earned $1.12 earnings per share. General Mills’s quarterly revenue was down 6.3% on a year-over-year basis. On average, sell-side analysts forecast that General Mills, Inc. will post 4.49 EPS for the current year.

General Mills Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were given a $0.60 dividend. This is a positive change from General Mills’s previous quarterly dividend of $0.59. The ex-dividend date was Wednesday, July 10th. This represents a $2.40 annualized dividend and a yield of 3.21%. General Mills’s payout ratio is currently 55.68%.

General Mills Profile

General Mills, Inc manufactures and markets branded consumer foods worldwide. The company operates through four segments: North America Retail; International; Pet; and North America Foodservice. It offers grain, ready-to-eat cereals, refrigerated yogurt, soup, meal kits, refrigerated and frozen dough products, dessert and baking mixes, bakery flour, frozen pizza and pizza snacks, snack bars, fruit and savory snacks, ice cream and frozen desserts, unbaked and fully baked frozen dough products, frozen hot snacks, ethnic meals, side dish mixes, frozen breakfast and entrees, nutrition bars, and frozen and shelf-stable vegetables.